Australia is headed for its worst Olympic performance in more than a decade at the 2012 London Games unless the Federal Government delivers $108 million in funding.
A damning study issued by the Australian Olympic Committee yesterday detailed fears Australia was about to fall off its perch near the top of world sport.
The demoralising tumble would see Australia win just nine gold medals and 38 overall if an Olympics was held this year.
And AOC president John Coates said Australia had missed its opportunity to keep pace with the rest of the world because of the Government's delay in delivering its Crawford review into sports funding.
''I am, and I think all of our member sports are, very disappointed that it has taken so long to be produced,'' Mr Coates said of the Crawford review.
''The sports needed additional funding immediately following the Beijing Games. We work in four-year cycles. Time has been lost.''
The Crawford review - conducted by businessman David Crawford - was commissioned by the Federal Government to analyse Olympic Games funding.
Far from contemplating funding cuts, the AOC has applied for an additional $108 million a year in federal money for Olympic and Paralympic sports for the next 10 years.
Sport Minister Kate Ellis received the Crawford report recently but has yet to issue or respond to it.
''The Government will give it careful consideration and respond as a priority,'' she said.
Ms Ellis acknowledged that ''challenges'' had emerged in Australian sport over the years.
''[But] we're committed to continuing to be a strong financial partner of Australian sport and our Olympic athletes,'' she said.
Since winning a record 58 medals for fourth position at the Sydney 2000 Games, Australia has experienced a steady decline to 49 medals in Athens in 2004 and 46 in Beijing last year. But Canberra race walker Nathan Deakes said Australia could still be an Olympic force and earn an impressive medal haul at London in 2012.
Deakes won bronze in the 20km walk at the Athens Olympics in 2004 and was favourite to win gold at Beijing before injury crippled his bid.
''We've probably punched above our weight for a long time and I don't think it's a case of Australia slipping back, I think it's got more to do with other countries putting systems into place similar to ours,'' Deakes said.
''Hopefully [the report] it's going to help us on the table because we all want to prove it wrong ... I think we've got the depth to still finish high and I can't see why we can't be competitive.'' The AOC believes Australia would need 55 medals to reclaim top-five status in London.
The survey is based on results achieved by Australians at world championships, world cups and equivalent events in 2009. ''We are a long way off our goal,'' Coates said. ''The study highlights a steady decline in the number of medals won over the past decade, and that is a major concern.''
with AAP